Resolution No. 5704
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RESOLUTION NO. 5704
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON CHANGING THE ENERGY COST ADJUSTMENT
BILLING FACTOR CHARGED FOR ELECTRICAL ENERGY
DISTRIBUTED AND SUPPLIED TO ITS ELECTRICAL
CONSUMERS
WHEREAS, Ordinance No. 911 provide s for an Energy
6 Cost Adjustment Billing Factor (IIECABFII) and for changes in
7 such billing factor to be made from time to time by resolutions
8 of the City Council of the City of Vernon, when, in the City
9 Council's opinion, such changes are necessary for the sound
10 financial position of the Light and Power Operating Funds; and
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WHEREAS, the ECABF adopted in previous Resolution
12 No. 5684 has produced a surplus in the energy cost adjustment
13 account; and
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WHEREAS, Resolution No. 5342, adopted by the City
15 Council of the City of Vernon on December 16, 1986, provides
16 a methodology to compute the ECABF that reduces the degree of
17 rate fluctuations, includes data from Vernon I s resources, and
18 provides a stable ECABF rate level; and
19 WHEREAS, the City Council of the City of Vernon hereby
20 intends to approve a new ECABF for future time periods in
21 accordance with Resolution No. 5342 in order to allow the
22 customers of the City of Vernon to project their future
23 financial needs in a reasonable manner.
24 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
25 OF THE CITY OF VERNON AS FOLLOWS:
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SECTION 1 :
That the City Council of the City of
27 Vernon finds and determines that the reci tals contained
28 hereinabove are true and correct.
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SECTION 2 :
That the City Council of the City of
2 Vernon does hereby adopt an ECABF of negative $0.00678 per
3 kilowatt hour on electrical energy sold to its electrical
4 consumers.
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SECTION 3 :
That the effective date of said ECABF
6 shall be February 1, 1990, and shall continue until rescinded
7 or amended by resolution of the City Council of the City of
8 Vernon.
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SECTION 4 :
That effective February 1, 1990, this
10 resolution rescinds existing ECABF Resolution No. 5684.
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SECTION 5:
That the City Clerk of the City of Vernon
12 shall certify to the passage of this resolution and thereupon
13 and thereafter the same shall be in full force and effect.
14 APPROVED AND ADOPTED this 23rd day of January, 1990.
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, LEON~' Mayor
ATTEST:
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BRUCE V. MALKENHORST, CITY CLERK
1 STATE OF CALIFORNIA )
) SSe
2 COUNTY OF LOS ANGELES)
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I, BRUCE V. MALKENHORST, City Clerk of the City of
4 Vernon, do hereby certify that the foregoing Resolution, being
5 Resolution No. 5704 was duly adopted by the City Council of
6 the City of Vernon, and was approved by the Mayor of said City
7 at an adjourned regular meeting of the City Council held on
8 Tuesday, January 23, 1990.
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BRUCE V. MALKENHORST, City Clerk
13 (SEAL)
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